UAL says it has options on pension shortfall

[Borescope]

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On 7/26/2003 11:09:57 PM 767jetz wrote:

Tilton said "that the company plans to address its pension crisis with a "combination of solutions,"
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Which could mean anything from termination to fully funding it. Why get all worked up over it? There is nothing you can do about it anyway. The court is going to have the final say and you will have to live with it, just like Chip is having to do.

 

[atabuy]

The goverment is paying big bucks for leads to Sadam. Why not send over the pension department to find him and collect the money for the plan.
Just one thin dime can help the cause. Funny huh?

 

[oldiebutgoody]

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On 8/1/2003 3:54:14 PM atabuy wrote:

The goverment is paying big bucks for leads to Sadam. Why not send over the pension department to find him and collect the money for the plan.
Just one thin dime can help the cause. Funny huh?



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Na. More like 35 cents.

 

[atabuy]

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On 8/1/2003 5:58:39 PM oldiebutgoody wrote:

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On 8/1/2003 3:54:14 PM atabuy wrote:


The goverment is paying big bucks for leads to Sadam. Why not send over the pension department to find him and collect the money for the plan.

Just one thin dime can help the cause. Funny huh?




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Na. More like 35 cents.

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Dropping a dime still sounds better then dropping 35 cents.
Inflation always messes things up.

 

[atabuy]

I have a few questions I cannot find the answer to at the PBGC site.
They are: If Ual turns over the pension plan to the PBGC.........

1. Would this affect everyone?

2.If so, would they allow early retirement?

This seems to be the way Ual is leaning to emerge from BK if they cannot get any type of relief.

 

[ual06]

On 8/3/2003 atabuy wrote:

" I have a few questions I cannot find the answer to at the PBGC site.
They are: If Ual turns over the pension plan to the PBGC.........

1. Would this affect everyone?

2.If so, would they allow early retirement?

This seems to be the way Ual is leaning to emerge from BK if they
cannot get any type of relief.



Jim "


Jim, and others, please do not base any retirement decision on the following. Seek more
help. I am sure not the expert.

1. Would this affect everyone?

As I understand, it will not necessarily affect everyone. It would affect employees that are
covered under the retirement plan that may be terminated. i.e.. if only the Pilots Defined
Benefit Retirement Plan should be terminated, only pilots would be affected.

2.If so, would they allow early retirement?

As I understand, basically, all provisions of a Plan that is taken over by the PBGC will remain
in effect. i.e.. if the Plan provided for early retirement it would still be available. However, it
appears, that if the Plan is under the PBGC, early retirement may not be advisable. That is
due to the fact that the PBGC does have limits on maximum benefits based on age at
retirement. (I am sure you saw those numbers at the PBGC site.)

Bottom line - it appears the PBGC works with their own set of complicated formulas. If your
Plan goes under the PBGC, you will get what you will get. Best advise I have received on the matter was to sleep tight and don't sweat it. Yes, what will be will be.